Smarttrade App Ltd - Abbreviated accounts 16.1

REGISTERED NUMBER: 06205886 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 30 APRIL 2016

FOR

SMARTTRADE APP LTD

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

K Van Schreven

C M Woolgar

REGISTERED OFFICE:

10-16, First Floor

Scrutton Street

London

EC2A 4RU

REGISTERED NUMBER:

06205886 (England and Wales)

ACCOUNTANTS:

Horizon Accounts Limited

Chartered Management Accountants

Stapleton House,

Block A, 2nd Floor,

110 Clifton Street

London

EC2A 4HT

FIXED ASSETS

Intangible assets

2

975

1,125

Tangible assets

3

524

818

1,499

1,943

CURRENT ASSETS

Debtors

55,056

29,345

Cash at bank

2,765

11,535

57,821

40,880

CREDITORS

Amounts falling due within one year

90,667

2,601

NET CURRENT (LIABILITIES)/ASSETS

(32,846

)

38,279

TOTAL ASSETS LESS CURRENT
LIABILITIES

(31,347

)

40,222

CAPITAL AND RESERVES

Called up share capital

4

2

Share premium

759,410

580,468

Profit and loss account

(790,759

)

(540,248

)

SHAREHOLDERS' FUNDS

(31,347

)

40,222

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2016 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of
each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections
394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial
statements, so far as applicable to the company.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 13 September 2016 and were signed on its behalf
by:

K Van Schreven - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover

Turnover represents net invoiced sales of services, excluding value added tax.

Intangible fixed assets

Amortisation is provided on intangible fixed assets so as to write off the cost, less any estimated residual value,

over their expected useful economic life. Where the directors consider that there has been a permanent

impairment in value the asset is written down to its realisable value in the year of impairment.

Intellectual property - 10% on straight line

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Office equipment

-

33.33% on straight line

Computer equipment

-

33.33% on straight line

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

Other income

Other income relates to income received from desk rental.

Going concern

The financial statements have been prepared on the going concern basis. The company incurred losses during the

year and the directors are aware that the balance sheet reflects net liabilities. However the directors have a

reasonable expectation that the company will begin to trade profitably once the research and development stage

has been completed, giving the company adequate resources to continue operating for the foreseeable future. The

directors are therefore of the opinion that they should continue to adopt the going concern basis of accounting in

preparing the financial statements.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 May 2015

and 30 April 2016

1,500

AMORTISATION

At 1 May 2015

375

Amortisation for year

150

At 30 April 2016

525

NET BOOK VALUE

At 30 April 2016

975

At 30 April 2015

1,125

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 May 2015

1,373

Additions

160

At 30 April 2016

1,533

DEPRECIATION

At 1 May 2015

555

Charge for year

454

At 30 April 2016

1,009

NET BOOK VALUE

At 30 April 2016

524

At 30 April 2015

818

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.4.16

30.4.15

value:

£

2,199

Ordinary shares

£0.00

1

2

On 30th June 2015, the company issued 66 Ordinary £0.001 shares for a total consideration of £67,874.

On 2nd October 2015, the company issued 24 Ordinary £0.001 shares for a total consideration of £24,682.

On 28th January 2016, the company issued 24 Ordinary £0.001 shares for a total consideration of £24,682.

On 24th February 2016, the company issued 10 Ordinary £0.001 shares for a total consideration of £10,284.

On 25th February 2016, the company issued 30 Ordinary £0.001 shares for a total consideration of £30,852.

On 5th April 2016, the company issued 20 Ordinary £0.001 shares for a total consideration of £20,568.